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Much more detail, with figures, although for UK Amazon workers here: https://www.theguardian.com/technology/2018/oct/03/amazon-offsetting-pay-rise-by-removing-b
by NeedMoreTea 8y ago
Much more detail, with figures, although for UK Amazon workers here: https://www.theguardian.com/technology/2018/oct/03/amazon-offsetting-pay-rise-by-removing-bonuses-union-says https://www.theguardian.com/technology/2018/oct/03/amazon-of...
The TL;DR for the UK is they lose over half the pay rise from losing the bonuses.
They got one share, worth £1,500 or $1,960 after every year, and an additional share once every five years. That can be tax-free if held for 2 years.
They also lose the possibility of cash bonuses for meeting targets.
- mmt 8y agoThat seems like an overly simplistic anlysis, unless an employee who quits or gets fired not on an anniversary receives a pro-rated partial share at departure. Otherwise, a separation before the first anniversary (presumably a certainty for seasonal workers) results in losing none of the raise, at just shy of the second anniversary only one quarter of the raise. Half the raise is an upper bound, and we'd have to know at least the average tenure of a warehouse employee to guess how much an average worker loses.
- hsdistefa 8y agoThis doesn't take into account that the stock didn't begin to vest until a worker was at Amazon for one year, and with such high employee turnover few made it to that mark.
- softawre 8y agotax free? how? You mean you can pay only cap gains if you hold it versus income tax?